Korea's central bank, pension fund agree on $35b forex swap deal

Korea's central bank, pension fund agree on $35b forex swap deal

South Korean 10,000 won note is seen on U.S. 100 dollar notes in this picture illustration taken in Seoul, South Korea, December 15, 2015. REUTERS/Kim Hong-Ji

South Korea’s central bank on Thursday agreed a deal with the National Pension Service that allows the latter to secure up to $35 billion in funds outside the standard foreign exchange market, a move offering support to the beleaguered Korean won.